Karnataka’s Minister for Large and Medium-Sized Industries, MB Patil, announced on Thursday that the state government plans to apply for a loan of Rs 5,000 crore to build new industrial regions and provide infrastructure, such as river water supplies.
Infrastructure is lacking in many industrial regions, particularly dedicated water delivery systems. The finance department and the government have been discussing potential solutions to this problem.
According to Patil, the dedicated water supply plan will require around Rs 2,000 crore, with the rest Rs 3,000 crore going towards building infrastructure, expanding industrial zones and purchasing property.
The Bengaluru Startup Park’s proposed location has been determined.
Speaking at ‘Innoverge’, an event organised by the Confederation of Indian Industry (CII), the minister mentioned that officials have also been instructed to identify land for another software park, which will be established in Belagavi. This software park in Belagavi is planned to focus on the Med-tech sector, he added.
Patil emphasised that to reap the benefits of growth of industries in emerging sectors, there is also a need to create a skilled workforce.
(with PTI inputs)